


use "H:\InkomenBestedingen\Data\AB\sample_main.dta", clear

*********************************************
*
* Table 1. Summary Stats
*
* Panel A: All First-time Home Buyers
global all "LTV_origination mtg_bal_2014 total_liabilities_2014 income_2014 liquid_savings_2014 liquid_savings_15_14 liquid_savingsplus_15_14 net_liquid_savingsplus_15_14"
	estpost tabstat $all, listwise statistics(count mean p50 sd p25 p75) columns(statistics)

* Panel B: "Savers" First-time Home Buyers
global all "liquid_savings_2014 liquid_savings_15_14"
	estpost tabstat $all if (liquid_savings_2015>=10000 | liquid_savings_15_14>=3000), listwise statistics(count mean p50 sd p25 p75) columns(statistics)

* Panel C: All Home Buyers
preserve
use "H:\InkomenBestedingen\Data\AB\sample_all_buyers.dta", clear
	global all "liquid_savings_2014 liquid_savings_15_14"
	estpost tabstat $all, listwise statistics(count mean p50 sd p25 p75) columns(statistics)
restore

*********************************************
*
* Table 2. Mortgage Amortization and Wealth Accumulation
* 
* Column 1
reghdfe mtg_bal_repay_15_14 treated if sample_main, absorb(dummy) cluster(household_id)
* Column 2
reghdfe wealth_15_14 treated if sample_main, absorb(dummy) cluster(household_id)
* Column 3
ivreghdfe wealth_15_14 (mtg_bal_repay_15_14 = treated) if sample_main, absorb(dummy) cluster(household_id) 
* Column 4
ivreghdfe net_liquid_savingsplus_15_14 (mtg_bal_repay_15_14 = treated) if sample_main, absorb(dummy) cluster(household_id) 
* Column 5
ivreghdfe mtg_bal_repay_17_13 treated_sample_13_17 if sample_13_17, absorb(dummy) cluster(household_id)
* Column 6
ivreghdfe wealth_17_13 (mtg_bal_repay_17_13 = treated_sample_13_17) if sample_13_17, absorb(dummy) cluster(household_id)
* Column 7
ivreghdfe wealth_15_14 (mtg_bal_repay_15_14 = treated_sample_near) if sample_near, absorb(dummy) cluster(household_id)
	
*********************************************
*
* Table 3. Mortgage Amortization and Wealth Accumulation - Life-events
* 
preserve
use "H:\InkomenBestedingen\Data\AB\sample_life_event_mover.dta", clear
	* Column 1
	reg purchase_in_2013 treated_sample_life_event if sample_life_event, cluster(household_id)
	* Column 2
	reghdfe income_2010 treated_sample_life_event if sample_life_event, absorb(dummy) cluster(household_id)
	* Column 3
	reghdfe liquid_savings_11_10 treated_sample_life_event if sample_life_event, absorb(dummy) cluster(household_id)
	* Column 4
	reghdfe wealth_11_10 treated_sample_life_event if sample_life_event, absorb(dummy) cluster(household_id)
	* Column 5
	reghdfe mtg_bal_repay_15_14 treated_sample_life_event if sample_life_event, absorb(dummy) cluster(household_id)
	* Column 6
	reghdfe wealth_15_14 treated_sample_life_event if sample_life_event, absorb(dummy) cluster(household_id)
	* Column 7
	reghdfe house_value_14_13_perc treated_sample_life_event if sample_life_event, absorb(dummy) cluster(household_id)
	* Column 8
	ivreghdfe wealth_15_14 (mtg_bal_repay_15_14 = treated_sample_life_event) if sample_life_event, absorb(dummy) cluster(household_id) 
	* Column 9
	ivreghdfe wealth_15_14 (mtg_bal_repay_15_14 = treated_sample_life_event_alt) if sample_life_event_alt, absorb(dummy) cluster(household_id) 
restore
preserve
use "H:\InkomenBestedingen\Data\AB\sample_life_event_all.dta", clear
	* Column 10
	reg own_real_estate_2016 treated_sample_life_event_all if  sample_life_event_all,  cluster(household_id)	
restore

*********************************************
*
* Table 4 - Panel A. Labor and Income Response
*
* 
* Column 1
ivreghdfe work_hrs_15_12 treated if sample_main, absorb(dummy) cluster(household_id) 
* Column 2
ivreghdfe work_hrs_15_12_ln treated if sample_main, absorb(dummy) cluster(household_id) 
* Column 3
ivreghdfe income_2012 work_hrs_2012 if sample_main, absorb(dummy) cluster(household_id) 
* Column 4
ivreghdfe income_15_14 work_hrs_15_12 if sample_main, absorb(dummy) cluster(household_id) 
*Column 5
ivreghdfe income_15_14 treated if sample_main, absorb(dummy) cluster(household_id)
* Column 6
ivreghdfe income_15_14 treated work_hrs_15_12 if sample_main, absorb(dummy)  cluster(household_id)
* Column 7
ivreghdfe income_15_14 treated working_ppl_15_12 if sample_main, absorb(dummy)  cluster(household_id)
	
*********************************************
*
* Table 4 - Panel B. Income response - IV estimates
*
* Column 1
ivreghdfe income_15_14 (mtg_bal_repay_15_14 = treated) if sample_main, absorb(dummy) cluster(household_id) 
* Column 2
ivreghdfe income_15_14 income_2010 liquid_savings_2010 mtg_bal_2013 (mtg_bal_repay_15_14 = treated) if sample_main, absorb(i.municipality##i.income_2011_groups)  cluster(municipality) 
* Column 3
ivreghdfe income_2012 income_2010 liquid_savings_2010 mtg_bal_2013 (mtg_bal_repay_15_14 = treated) if sample_main, absorb(i.municipality##i.income_2011_groups)  cluster(municipality) 
* Column 4
ivreghdfe income_2015 income_2010 liquid_savings_2010 mtg_bal_2013 (mtg_bal_repay_15_14 = treated) if sample_main, absorb(i.municipality##i.income_2011_groups)  cluster(municipality) 
* Column 5
ivreghdfe wealth_15_14 income_2010 liquid_savings_2010 mtg_bal_2013 (mtg_bal_repay_15_14 = treated) if sample_main, absorb(i.municipality##i.income_2011_groups)  cluster(municipality) 
* Column 6
ivreghdfe income_15_14 (mtg_bal_repay_15_14 = treated) if sample_main & work_hrs_per_adult_week>=35, absorb(dummy) cluster(household_id)
*Column 7
ivreghdfe wealth_15_14 (mtg_bal_repay_15_14 = treated) if sample_main & work_hrs_per_adult_week>=35, absorb(dummy) cluster(household_id)

*********************************************
*
* Table 5 - Panel A. Substantial liquid savings
*
* Column 1
ivreghdfe wealth_15_14 (mtg_bal_repay_15_14 = treated) if sample_main & LTV_origination<=0.9, absorb(dummy) cluster(household_id) 
* Column 2
ivreghdfe wealth_15_14 (mtg_bal_repay_15_14 = treated) if sample_main & LTI_origination<=4 , absorb(dummy) cluster(household_id) 
* Column 3
ivreghdfe wealth_15_14 (mtg_bal_repay_15_14 = treated) if sample_main & (liquid_savings_2015>=10000 | liquid_savings_15_14>=3000), absorb(dummy) cluster(household_id) 
* Column 4
ivreghdfe liquid_savings_2011 liquid_savings_2011_high if sample_main, absorb(dummy) cluster(household_id) 
* Column 5
ivreghdfe liquid_savings_2015 liquid_savings_2011_high if sample_main, absorb(dummy) cluster(household_id) 
* Column 6
ivreghdfe wealth_15_14 (mtg_bal_repay_15_14 = treated) if sample_main & liquid_savings_2011_high, absorb(dummy) cluster(household_id) 
* Column 7
ivreghdfe wealth_15_14 (mtg_bal_repay_15_14 = treated) if sample_main & stocks_bonds_2011>0, absorb(dummy) cluster(household_id) 	

*********************************************
*
* Table 5 - Panel B. Making Voluntary Pension Contributions or Limted Predicted Pension Payout
*
* Column 1
ivreghdfe wealth_15_14 (mtg_bal_repay_15_14 = treated) if sample_main & pencontr_ever_11_17, absorb(dummy) cluster(household_id) 
* Column 2
ivreghdfe wealth_17_14 (mtg_bal_repay_17_14 = treated) if sample_14_17 & pencontr_ever_11_17, absorb(dummy) cluster(household_id) 
* Column 3
ivreghdfe wealth_17_14 (mtg_bal_repay_17_14 = treated) if sample_14_17 & pension_projected_2016<=1000, absorb(dummy) cluster(household_id) 
sum pension_projected_2016 if sample_14_17 & pension_projected_2016<=1000
* Column 4
ivreghdfe wealth_17_14 (mtg_bal_repay_17_14 = treated) if sample_14_17 & pension_projected_2016<=500, absorb(dummy) cluster(household_id) 
sum pension_projected_2016 if sample_14_17 & pension_projected_2016<=500
* Column 5
ivreghdfe wealth_17_14 (mtg_bal_repay_17_14 = treated) if sample_14_17 & pension_projected_2016<=1000, absorb(dummy) cluster(household_id)	
sum pension_projected_2016 if sample_14_17 & pension_projected_2016<=1000
* Column 6
ivreghdfe wealth_17_14 (mtg_bal_repay_17_14 = treated) if sample_14_17 & pension_projected_2016<=500 & pension_active_2016>0, absorb(dummy) cluster(household_id)	
sum pension_projected_2016 if sample_14_17 & pension_projected_2016<=500 
	
*********************************************
*
* Table 6. Movers Sample
*
* Column 1
reghdfe mtg_bal_2017 treated if sample_mover, absorb(dummy) cluster(household_id)	
* Column 2
reghdfe mtg_bal_2017_ln treated if sample_mover, absorb(dummy) cluster(household_id)	
* Column 3
reghdfe hew_at_sale treated if sample_mover, absorb(dummy) cluster(household_id)	
* Column 4
reghdfe liquid_savings_2017 treated if sample_mover, absorb(dummy) cluster(household_id)	
* Column 5
reghdfe liquid_savings_2017_ln treated if sample_mover, absorb(dummy) cluster(household_id)	
* Column 6
ivreghdfe wealth_16_15 (mtg_bal_repay_16_15 mtg_bal_repay_16_15_sample_mover = treated treated_sample_mover) if sample_15_16, absorb(dummy) cluster(household_id) 
	
*********************************************
*
* Table 7. Heterogeneity analysis
*
* Column 1
ivreghdfe wealth_15_14 (mtg_bal_repay_15_14 = treated) if sample_main & hi_LTV, absorb(dummy) cluster(household_id)	 
* Column 2
ivreghdfe wealth_15_14 (mtg_bal_repay_15_14 hi_LTV_mtg_bal_repay_15_14 = treated hi_LTV_treated) hi_LTV if sample_main, absorb(dummy) cluster(household_id)	 
* Column 3
ivreghdfe wealth_17_13 (mtg_bal_repay_17_13 hi_LTV_mtg_bal_repay_17_13 = treated_sample_13_17 hi_LTV_treated_sample_13_17) hi_LTV if sample_13_17, absorb(dummy) cluster(household_id)
* Column 4 
ivreghdfe wealth_17_13 (mtg_bal_repay_17_13 hi_LTV_mtg_bal_repay_17_13 = treated_sample_13_17 hi_LTV_treated_sample_13_17) hi_LTV if sample_13_17 & house_value_17_13>0.1, absorb(dummy) cluster(household_id) 
* Column 5
ivreghdfe hi_LTV treated if sample_main, absorb(dummy) cluster(household_id) 	
	sum hi_LTV if sample_main
* Column 6
ivreghdfe wealth_15_14 (mtg_bal_repay_15_14 low_rate_mtg_bal_repay_15_14 = treated low_rate_treated) low_rate if sample_main, absorb(dummy) cluster(household_id) 	
* Column 7
ivreghdfe wealth_15_14 (mtg_bal_repay_15_14 hi_educ_mtg_bal_repay_15_14 = treated hi_educ_treated) hi_educ  if sample_main, absorb(dummy) cluster(household_id) 		
* Column 8
ivreghdfe hi_educ treated if sample_main, absorb(dummy) cluster(household_id)	
	sum hi_educ if sample_main


